The Fredericksburg Economic Development Authority and Kalahari Resorts have reached a compromise on bond fees. The agreement calls for a fee on Kalahari's taxable bonds in exchange for the company agreeing to pay the standard fee on the tax-exempt issuance.
The compromise allows the Fredericksburg EDA to charge one-eighth of 1% annual fee to issue tax-exempt bonds. In return, the authority will reduce the charge on the taxable bonds.
Read more in The Free-Lance Star....
The legal battle over a three-acre plot of land on Reserve Avenue has ended, with B&B Holdings accepting its condemnation. The City of Roanoke had exerted eminent domain to take the land for a Carrilion Clinic biomedical park, but has since dropped those plans.
The case has been closely watched by advocates of property-owners' rights, who are pushing for stricter limits on the use of eminent domain to seize land. Ultimately, the owners in this case, Jay and Stephanie Burkholder, gave up the fight because it made good financial sense to do so. The legal battle cost them about $600,000.
The Campbell County School Board eliminated 68 full-time positions, mostly through attrition and leaving openings unfilled. Thirty-three employees were laid off.
The cuts were needed to balance the division's $72 million budget.
School budgets -- and how they are balanced -- are important to homeowners because the schools are supported by taxes. Also, homes located in popular school districts may be more attractive to young families looking to buy.
Read more in the Lynchburg News & Advance....
Caroline County has eliminated 10 jobs and reduced salaries across the board in an attempt to bring its budget down to a manageable level. The reductions will save the county $548,532.
County Administrator Percy Ashcraft said that residents should not feel a big impact from the changes. "The personnel decisions have been made to attempt to have the least impact on the delivery of services to our citizens," he said. "We have an obligation to have a high standard of serving the public at large. We must continue to do that despite having fewer people in place."
Homeowners benefit from carefully balanced budgets that avoid raising property taxes, as long as public services are adequately funded.
On January, 16, 2009, the Appraisal Insight blog brought to you the valuation fight that is appraisals vs. broker price opinions (BPO). Today they bring you Round 2 – and this time it’s personal. Well, it’s not really personal but there is a clear difference of opinion.
Protecting the value of your home is a key interest of homeowners, and it's because of this that the Virginia Homeowners Alliance (www.VaHomeownersAlliance.com) offers a comprehensive Web site to provide homeowners with up-to-the-minute local and statewide information.
NAR's Appraisal Insight blog reports a change in plans for complaint procedures related to the Home Valuation Code of Conduct:
The Fairfax County School Board passed a $2.2 billion spending plan, $35 million less than the current budget. The plan includes nearly $200 million in budget reductions and cost avoidances, including the elimination of 204.3 positions, nearly half of which are from central offices. Spending per pupil decreased by approximately $300 from last year.
Homeowners benefit from a strong school system, and young families looking to buy often seek out homes in "good" school districts.
Richmond city officials will hold a series of public meetings next month to discuss the revitalization of the 25th Street/Nine Mile Road corridor. The goal is to develop specific proposals for design, housing and business opportunities for the East End.
Homeowners can benefit from revitalization projects. If well-planned and carried out, such projects lift the values of properties within and near the renovated areas.
More than 400 residents attended an open hearing to protest tax hikes included in the Southampton County budget. A petition to cut spending rather than raise taxes, signed by 1,200 residents, was presented to officials.
The County Board of Supervisors plans increase the real estate tax rate by five cents, to 77 cents, and the personal property tax rate for vehicles by one dollar, to $5.50. The tax increases would generate more than $1.37 million of the county’s $53 million budget.
Read more in the Tidewater News....